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Redlands has a strong base of long-term homeowners. Many have built significant equity over decades.
That equity can be converted to tax-free cash through a reverse mortgage — without selling or making monthly payments.
62 years old
Minimum Age
$0 required
Monthly Payment
HECM (FHA-backed)
Loan Type
Substantial equity
Equity Needed
Before closing
Counseling Required
Reverse Mortgages in Redlands
You must be 62 or older. The home must be your primary residence.
Lenders check your credit, but there's no minimum score requirement like conventional loans. You must stay current on taxes and insurance.
Most reverse mortgages are HECMs — Home Equity Conversion Mortgages backed by FHA. Not every lender offers them.
SRK CAPITAL works with 200+ wholesale lenders. We find the reverse mortgage program that fits your situation, not theirs.
The biggest mistake seniors make: waiting too long. Borrowing capacity drops as you age and rates rise.
HUD requires independent counseling before closing. Do it early — it won't slow your timeline and it protects you.
HELOCs and home equity loans require monthly payments. A reverse mortgage does not — that's a real difference on a fixed income.
Conventional cash-out refinancing adds a new monthly payment. For retirees, that's often the wrong direction.
Redlands homeowners who bought 20-30 years ago are sitting on substantial equity. That's the foundation a reverse mortgage builds on.
San Bernardino County property taxes are manageable for most seniors here. Staying current on them is non-negotiable to keep the loan in good standing.
Yes. You keep the title. The lender places a lien, but you own the home as long as you live there and meet loan terms.
The loan becomes due. Your heirs can sell the home, pay off the balance, or refinance. They keep any remaining equity.
Yes — but the existing mortgage must be paid off at closing, often using reverse mortgage proceeds.
No. Reverse mortgage proceeds are loan advances, not income. They don't affect Social Security or Medicare eligibility.
It depends on your age, home value, and current rates. Older borrowers with more equity access more funds. Rates vary by borrower profile and market conditions.
It's a required session with an FHA-approved housing counselor. It ensures you fully understand the loan before you commit.